Last Updated on February 14, 2021 by Ope Quadri
The Federal Government says at least 150,000 slots are still available in the ongoing CAC-FG free business name registration.
In 2020, a committee led by Vice President Yemi Osinbajo announced free 250,000 slots for small business owners to register for their business name. It is part of government effort at boosting small businesses.
Several months after the exercise began, the government said 100,000 businesses have seized the opportunity.
Why the government announced free business name registration:
Last year, the Buhari-led government rolled out several welfare packages as part of the post-COVID-19 strategic measures to mitigate the effect of the pandemic on businesses and individuals.
One of such is Survival Fund which includes ( Payroll, Formalization, guaranteed Offtake, and SME grant).
One of the requirements to accessing some of the grants and soft loans is CAC business registration
As such free business name was announced to allow those who are financially incapacitated to take the advantage.
- Two (2) Passport-sized photographs
- Three (3) Proposed Names
- Phone Number
- Email address
- Valid Means of Identification: National ID Card (NIN), Driver’s Licence, International Passport.